Macerich's Market-Dominant Inland Center Opens

SANTA MONICA, Calif., Oct. 25, 2016 /PRNewswire/– Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail properties in top markets, today announced the successful opening on Oct. 21 of a brand new JCPenney department store at Inland Center. Inland Center, the market-dominant shopping destination in San Bernardino, Calif., also celebrated the shopping center’s 50th anniversary.

The 119,000 square-foot, two-level JCPenney joins anchors Macy’s, Forever 21 and Sears, along with more than 100 specialty stores and restaurants, in the 933,000 square-foot enclosed regional mall in the heart of Southern California’s fast-growing Inland Empire. The department store’s new location at the mall is a fully renovated, high-profile anchor space, formerly home to Gottschalks department store.

Starting with an official ribbon-cutting on Friday morning, thousands of shoppers enjoyed special activities, including performances, promotions and giveaways, throughout the weekend.

“JCPenney first opened in San Bernardino in 1916, and although we departed for a brief period, we’re proud to become reacquainted with the city we first met 100 years ago,” said Paul Mutshnick, JCPenney general manager. “Our team is thrilled to reward loyal customers – and surprise new shoppers – with an all‐new store experience featuring an unparalleled merchandise assortment and excellent customer service.”

“Inland Center continues to be an exceptionally powerful platform for popular retail brands, and we are so pleased to welcome JCPenney to the vibrant store lineup as we also celebrate this property’s 50th anniversary,” said Randy Brant, Executive Vice President of Real Estate, Macerich. “Since opening in 1966, this mall has been the dominant retail destination for the greater San Bernardino region, which is the 13th most populous metropolitan area in the entire country. Our strong demographics and always-evolving customer experience deliver a great sales channel for JC Penney.”

JCPenney at Inland Center brings its well-known private brands offering compelling style, quality and value, as well as popular national brands and exclusive merchandise and attractions, including Sephora and Disney.

About JCPenney

J. C. Penney Company, Inc. (NYSE:JCP), one of the nation's largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of the over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on the Company’s three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.

About Macerich

Macerich (NYSE:MAC), an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

Macerich currently owns 56 million square feet of real estate consisting primarily of interests in 50 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago, and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.